PG&E Co. Short Interest Up 49.3% in May (PCG)
PG&E Co. (NYSE:PCG) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 10,401,896 shares, a growth of 49.3% from the April 30th total of 6,968,232 shares, American Banking & Market News reports. Based on an average daily volume of 3,300,327 shares, the short-interest ratio is presently 3.2 days. Currently, 2.3% of the company’s stock are sold short.
PCG has been the subject of a number of recent research reports. Analysts at Macquarie upgraded shares of PG&E Co. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $47.50 price target on the stock, up previously from $42.00. Separately, analysts at Jefferies Group raised their price target on shares of PG&E Co. from $50.50 to $51.00 in a research note on Friday, May 2nd. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of PG&E Co. in a research note on Wednesday, April 23rd. They now have a $48.50 price target on the stock. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.27.
PG&E Co. (NYSE:PCG) opened at 46.68 on Monday. PG&E Co. has a 1-year low of $39.42 and a 1-year high of $47.30. The stock’s 50-day moving average is $44.81 and its 200-day moving average is $42.7. The company has a market cap of $21.695 billion and a price-to-earnings ratio of 26.21.
PG&E Co. (NYSE:PCG) last released its earnings data on Thursday, May 1st. The company reported $0.54 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.12. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company posted $0.63 earnings per share. PG&E Co.’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that PG&E Co. will post $3.01 EPS for the current fiscal year.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company (NYSE:PCG).
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